IVA Process

A IVA is a complicated legal procedure, so we can only give you an estimate about how long it will take for Debts Management to set up your IVA.

But please call us today on freephone 0808 131 9112, and from there we will be able to help you begin your debt free future.

What is the IVA Process?

The time frame below is the average number of days taken to process your paperwork

	You make initial contact with us. One of our expert advisors will determine whether an IVA is your best option. We send our "Fact Finder" pack to you.
	You send signed "Fact Finder" pack back to us incorporating supporting documentation.
	We will then draft your IVA proposal based on your unique information, and issue it to you.You
	You need to sign the IVA proposal and send it back to us. We will deal with your creditors and any administration tasks until…
	…your IVA proposal has been agreed, and you can begin to make payments so you are on the road to clearing your debt.
	Congratulations! You have completed your IVA and you are free from debt!

For your IVA to be accepted, 75% of your creditors (in terms of debt value) must accept the IVA proposal. When this happens even those who did not vote for the IVA will be bound by the agreement.

If an IVA sounds like the debt solution for you, please call our Debts Management advisors on 0808 131 9112 or fill in our Quick Enquiry Form so that we can call you back.

Entering into an IVA may adversely affect your credit rating for up to six years from the date of approval.

Your property will be protected within an IVA but you may be required to release all or part of any equity during the period of the arrangement.

Failure to complete the term of an IVA can result in bankruptcy.

(In Scotland, a PTD is the equivalent to an IVA.)